A Madison-based technology company aimed at reducing the soaring burden of medical debt is the winner of the 2024 Elevator Pitch Olympics.
My Coverage Plan, a subsidiary of the nonprofit public-interest law firm ABC for Health, won the highest marks from judges at the competition in Madison Nov. 14. Founder Bobby Peterson said the program is like “TurboTax for health benefits.” The technology helps hospitals and patients work together to reduce medical debt by connecting uninsured or underinsured patients with appropriate health coverage.
Peterson was one of 17 entrepreneurs who rattled off the virtues of their products and services in 90-second flash presentations at the rapid-fire Elevator Pitch Olympics.
The annual competition, a highlight of the Wisconsin Technology Council’s Early Stage Symposium, featured startups whose offerings ranged from health-related products to tools for farmers to video programs for children.
Show and tell
Madison-based Pogie the Yogie founders Corrina and Patrick Cunningham brought life-sized cardboard cutouts of the characters they use in live events and videos to teach children mindfulness and yoga-based movement. The target market is simple: “Moms,” Corrina said.
Carbon Rose of Sun Prairie showed off one of its modular electric guitars, made partly with carbon fiber. “They’re going to bring the band to the budget musician,” founder Troy Sonnleitner said.
Kayla Lokker, of Milwaukee-based Easy Wear Jewelry, demonstrated her company’s retractable jewelry clasp that expands to fit a necklace over the wearer’s head, eliminating the need to fuss with small, hard-to-open clasps. Easy Wear’s devices are aimed at older women and people with mobility problems, but anyone can use them, Lokker said.
Judge Danny Pantuso, of Mucker Capital, was convinced. He gave Easy Wear five points—the top rating. “I’m currently wearing two bracelets, and I can’t get them off,” he said, raising his wrist to show the audience.
More startups
The other contestants were:
- Archetto (Madison), with video games to teach music to students learning string instruments
- Block Time Financial (Delafield), whose software lets financial firms offer products using blockchain
- Encryptiest (Madison), with technology to target digital advertising while keeping the user’s personal data private
- Higher Ground (Mineral Point), with a garment that cools the upper body with ice water
- Laser Comm (Madison), with light sources to sense methane leaks on farms
- MyTalentPlanner (Green Bay), a program for training business leaders and managing staff
- Oui Technologies (Madison), which is developing automation tools to manage restaurant operations
- Queued Up (Eau Claire), with an app that lets users share their music playlists
- RojoBio (Madison), which uses cannabis plants to produce ingredients for pharma, nutrition, cosmetics, and agriculture
- Saturn Agrisens (Madison), whose technology lets farmers monitor soil nutrients
- SmartTriage Pod (Madison), with artificial intelligence (AI) technology to optimize hospital emergency department workflow and wait times
- Stempath (Madison), with an AI recruitment tool for jobs in biotech and health care
- Tailored Remedy (Milwaukee), whose AI platform translates complicated medical information and jargon into more easily understandable terms
The four judges–Michael Thorson of Inventure Capital/Wisconsin Investment Partners, Ryan Weber of Great North Ventures, Christian Moran of Pegasus Tech Ventures, and Pantuso—rated presentations on a scale of one to five based on their content, style, potential market, and other factors.
Tailored Remedy drew the second-highest ratings from the judges. The People’s Choice award, for the top vote-getter from those who attended the contest, went to Easy Wear Jewelry.
Another 23 startups were chosen to make five-minute presentations to investors during the two-day symposium, and more than 50 entrepreneurs applied for an opportunity for individual, 10-minute meetings with investors. A total of 275 of those meetings were held, said Tom Still, president of the Wisconsin Technology Council.
“Over time, we’ve noticed the pitches have become better,” Still said. “We, the Tech Council, do a lot to mentor them. There are also many other resources now for these companies to tap into.”
About 450 people registered for the conference, which was held at Monona Terrace. WEDC is one of the cosponsors.
